Traverse City Record-Eagle


January 2, 2013

Calcutt to step down from Northwestern Bank

TRAVERSE CITY — Harry “Scrub” Calcutt will step down as president and CEO of Northwestern Bank sometime this month.

Calcutt, who will turn 65 in January, informed bank employees by email on Monday that he’ll leave. He cited a desire to spend time on other business and community ventures, bank spokesman Doug Zernow said.

Calcutt has run the closely held private bank for 12 years and tripled its size over that time, Zernow said.

Since August, the bank has operated under a consent agreement with the Federal Deposit Insurance Corporation and Michigan’s Office of Financial and Insurance Regulation, oversight related to failed loans.

But Zernow said Calcutt has talked about retiring for the last year and his resignation is not related to the consent agreement.

Zernow said he did not know if Calcutt intends to maintain his position as chairman of the board. A successor has not yet been named.

Look for additional details in Thursday’s Record-Eagle.

Text Only

the BIZ

AP Video
Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive In Case of Fire, Oxygen Masks for Pets Mobile App Gives Tour of Battle of Atlanta Sites Anti-violence Advocate Killed, but Not Silenced. Dempsey: Putin May Light Fire and Lose Control Arizona Prison Chief: Execution Wasn't Botched Calif. Police Investigate Peacock Shooting Death Raw: Protesters, Soldiers Clash in West Bank Police: Doctor Who Shot Gunman 'Saved Lives' 'Modern Family' Star on Gay Athletes Coming Out MN Twins Debut Beer Vending Machine DA: Pa. Doctor Fired Back at Hospital Gunman Raw: Iowa Police Dash Cam Shows Wild Chase Obama Seeks Limits on US Company Mergers Abroad Large Family to Share NJ Lottery Winnings U.S. Flights to Israel Resume After Ban Lifted Official: Air Algerie Flight 'probably Crashed' TSA Administrator on Politics and Flight Bans Raw: National Guard Helps Battle WA Wildfires
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide